KOR Inks Tenant at New Jersey Industrial Park
- Jan 09, 2009
McCollister’s Transportation Group, a third-party logistics firm, has leased 66,500 square feet at KOR Cos.’ Central Crossings Business Park in Bordentown, N.J. The multi-year lease, negotiated by Cushman & Wakefield Inc., brings the 142,000-square-foot building to 100 percent occupancy. The facility will serve as an expansion of McCollister’s regional warehousing operation. “Central Crossings fit McCollister’s needs perfectly–its quality and flexibility truly sets it apart,” noted Noah Balanoff of Cushman & Wakefield, who represented McCollister’s with team members Stan Danzig and Jules Nissim. “KOR was aggressive with the deal terms and was able to deliver the space to McCollister’s with its required tenant improvements on an expedited basis.” Balanoff, Danzig and Nissim also serve as exclusive leasing agents for Central Crossings, with Steve Tolkach of Newmark Knight Frank in Princeton. Located on Bordentown Hedding Road, in the heart of the New Jersey Turnpike Exit 7 submarket, Central Crossings Business Park has been successful in drawing smaller industrial users. McCollister’s co-tenants include Blue Tulip, Garden State Portable Storage and Frank Wood Transportation. The largest of those commitments totals 47,800 square feet. Additionally, the property includes a newly completed, 120,000-square-foot spec building. Last month, Genesis Logistics leased 60,000 square feet to occupy half of that structure. Currently, Cushman & Wakefield is marketing the property’s remaining 60,000 square feet. KOR has full approvals and site work completed for a twin, 120,000-square-foot building next door.The 170-acre campus includes 2.3 million square feet of total development potential. KOR has finished site work for one additional building pad, and Rockefeller Group Development Corp. and IDI acquired a final parcel, approved for 1.2 million square feet. KOR also has approvals in place for the project’s Phase II, which will include two more buildings of 504,000 square feet and 136,000 square feet.